Structured Products Software Solution

BondAgent™ is designed to create waterfall cash flows and bond analytics from collateral data. Built into Vision™, and leverages MIAC CORE™ – macro-factor driven, loan-level credit, and prepay models.

Customize and Analyze the Collateral Cash Flow Modeling Process

Forensic Analysis

Understand the sources and uses of cash in the structure
  • See collateral, bond, and reserve account outstandings
  • See if interest or reserves are used to pay principals
  • Understand the use of over-collateralization, and how much is needed to pay the bond principal
  • See where bond principal or reserves are used to pay bond interest
  • Understand writedowns on bonds, or a failure to pay required bond principal relative to collateral writedowns


Control the structure in detail
  • Customize calculations to change the waterfall cash flows
  • Build waterfall triggers in the structure
  • Add customized fees, reserves, and bonds

Structure Wizard

Plan the structure and paste it into the Wizard
  • Paste in the Bond Structure and Waterfall Priority
  • Select Collateral Pool
  • See the final structure graphically

Sensitivity Analysis

Advanced cash flow risk analytics are integrated into BondAgent™.

Stochastic Generator

BondAgent performs stochastic analysis of collateral model drivers for cash flow generation.
  • Simulates stochastically a range of outcomes or paths for macro-factors that drive MIAC collateral behavior models, such as unemployment, house price index, and CPPI
  • Performs analysis with as many macro-factor paths as desired (select number of paths)
  • Automates user-defined calibration of stochastic models from historical time-series’ via the Hurst exponent
  • Produces a correlation matrix for selected variables so that they retain historical or even user defined inter-dependencies

Price/Yield Tables

Update collateral and bond pricing assumptions.
  • Bond Shocks: Yield shocks, spread shocks, price shocks (solve for yield)
  • Collateral Shocks: Prepayment speed, default, and loss assumptions
  • Generate separate cash flow tabs for each collateral assumption

Reverse Stress Testing

Reverse Stress Testing determines the specific levels of CDR (or REO Entry) Pct, CPR, or Loss that result in user-defined levels or loss or paydown for the bond.
  • Solves for timing and magnitude of borrower behavior for when targets are reached
  • Works through the entire waterfall to show how each bond below a targeted bond is written down

Risk Retention Analysis

MIAC utilizes BondAgent™ to generate Risk Retention analysis, bond price discovery, and investor reports for structured finance products for our clients.

All Software Solutions Include:


We closely work with the client’s IT department for software installation. We create and provide the
initial setups based on the client’s specifications. This saves the client FTO hours so they can focus on training.

Support (Onsite & Online)

We offer 2+ days onsite training and often follow-up with online sessions to reinforce training material. Our web-based support ticketing system allows clients to easily submit requests and monitor its progress. Our support team members work from several locations, which means we offer longer working hours.

Industry Expertise

We pride ourselves on hiring talented and experienced employees. We are staffed with industry experts who have worked in many facets of the financial sector for decades, making it easy for us to relate to the needs of our clients.

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